Counterfeit Money Incidents Spread Across the US, Prompting Concerns

Recent reports of individuals attempting to use counterfeit cash have been surfacing throughout the United States. ABC News has even declared that counterfeiting is “making a comeback.” One such incident took place in Hilo, Hawaii, where someone has been bleaching the ink off of $1 bills and printing $100 marks on top. According to the local Fox-affiliated news station KHON, police captain Rio Amon-Wilkins has revealed that authorities are investigating several persons of interest in connection with this crime.

Amon-Wilkins stated, “Because it’s being printed on original US currency notes, the pen still works properly and doesn’t identify it as counterfeit. This is the first time, to my knowledge, we’ve had this type of case where they’re using the original U.S. currency notes.” This case is just one of many incidents involving counterfeit money that have occurred across the country in recent weeks:

• In Brownsville, Texas, a man has been accused of producing counterfeit dollar bills and using them to pay for various items such as groceries, hotels, gas, and food.
• Police in Boardman, Ohio, have reported that counterfeit money was used to gain entry into a community baseball stadium, prompting an ongoing investigation.
• In North Carolina, a man has admitted to bleaching $1 bills and attempting to print $100 graphics on top.

Furthermore, German authorities have recently seized a significant amount of fake cash with a face value of $103 million. The Associated Press has reported that investigators believe these counterfeit bills originated from Turkey and were intended for illicit purposes in the United States. According to a police statement, “The bills, known as ‘prop copy’ or ‘movie money,’ could be recognized as fakes upon close scrutiny, but Germany’s central bank and US authorities believe they could be mistaken for real money in everyday life.”

The US Secret Service has revealed that it confiscated $21.8 million in counterfeit currency last year, resulting in 197 arrests. While the dollar value of these seizures has declined in recent years, the agency warns that counterfeiting techniques are advancing alongside technological advancements. “The threat of counterfeit U.S. currency to the financial system of the United States continues to evolve. Advances in technology, the availability of scanning and printing devices, and the adoption of the U.S. dollar as legal tender by other nations have exacerbated the global threat.”

It is important for individuals to stay vigilant and exercise caution when handling cash. The Daily Hodl advises readers to conduct thorough research and exercise caution before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. Transfers and trades should be undertaken at one’s own risk, and any losses incurred are the individual’s responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice. Please note that The Daily Hodl engages in affiliate marketing.